Record inflation of nearly 9% in the euro zone: Bitcoin is fed up

Bitcoin in damn good shape – After the US inflation recordwith 9.1%, here is the inflation record in eurozonewith 8.9% this time. The effects of massive money prints due to “whatever it takes” restrictions linked to Covid-19 are felt just as much on both sides of the Atlantic.

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A real loss of confidence in fiat currencies

It’s official. This is yet another record for theinflation in Europe, at least in eurozone. As Le Figaro reports in particular, price increases over a rolling year reached a record 8.9% in July, according to Eurostat data published on July 29, 2022.

With the crisis in Ukraine and the sanctions against Russia, it is no surprise energies who took the biggest slap: nearly 40% in one year. Even the foodstuffsan even more sensitive chord for households, took nearly 10% since July 2021.

These are in particular the 3 Baltic countries – Estonia, Lithuania and Latvia – who would be most affected, with each more than 20% annual inflation. In Franceinflation has further increased compared to June, from 5.8 in May at 6.8%according to this latest update.

Inflation is breaking records in the euro zone. – Source: ec.europa.eu/eurostat

In an attempt to counter these rises and the fear of the specter ofhyperinflationcentral banks raise their key rate… like the Federal Reserve in the United States, which once again increased its 0.75 points a few days ago.

The European Central Bank (ECB) is likely to do the same and also increase its rate. However, Bitcoin and its 21 million units (not one more to print) do not seem negatively affected by these rate hikes, often bearish for so-called assets “risky”. On the contrary, the course of BTC made us one rise to $24,000.

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